The NSE Nifty had snapped three straight sessions of gains on Tuesday
Indian stock markets are likely to start Wednesday's session on a flat note, with the SGX Nifty trading 12 points lower at 10,244.50 on Singapore Exchange. Government data on Tuesday showed retail inflation (based on Consumer Price Index or CPI) increased sharply to a 15-month high of 4.88 per cent in November, sharply higher than the RBI's medium-term target of 4 per cent. Shares in the other Asian markets were flat. MSCI's broadest index of Asia-Pacific shares outside Japan was a few ticks higher in early trade. Japan's Nikkei stock index edged down slightly. Overnight on Wall Street, the Dow Jones industrial average and the S&P 500 both notched record closing highs, though the Nasdaq Composite shed 0.19 per cent.
The National Stock Exchange (NSE) benchmark index Nifty had on Tuesday snapped three straight sessions of gains. The NSE Nifty closed 0.8 per cent lower at 10,240.15 while the BSE Sensex ended down 0.68 per cent at 33,227.99. Both the indices had gained over 2.6 per cent each in the previous three sessions.
Research analyst Simi Bhaumik shares her trading picks:
Buy Century Plyboards for a target price of Rs 346 with stop loss below Rs 326
Buy Hindustan Oil Exploration for a target price of 146 with stop loss below Rs 132.50
Disclaimer: Investors are advised to make their own assessment before acting on the information.